Page 10 - AvRillo_A4ConvGuideBook July2017

10 Your move fast guide to conveyancing by AVRillo.

BUYING PITFALLS (4-7)

WHAT CAN GO WRONG WHEN BUYING.

4) Preliminary ‘Report on Title’ and potential defects. 6) Work with your estate agents - not against them.
Your solicitor should prepare a Report on Title at the earliest Most solicitors do not appreciate how much your estate agent
opportunity. This sets out what defects exist with the property, can help you move. Often, solicitors prefer not to take the estate
if any. Most solicitors will leave this until the last minute. agents’ calls or delay in responding. Estate agents dislike this
as they can do a lot to help you move if your solicitors were
What AVRillo suggest you do differently? prepared to communicate with them more.
We feel the buyer should know of any problems as soon as
possible. For this reason, we give our clients two reports. The What AVRillo suggest you do differently?
first is our preliminary report which we send out at the very We know how much your estate agent knows about you and
beginning of the transaction, as soon as we have received Land your purchase. For this reason, we are usually given authority
Registry Title Deeds and have had an opportunity to consider by our clients to fully cooperate with their estate agents. We
any defects found. This gives our clients an opportunity to make encourage our clients’ estate agents to call and to speak to us.
an initial assessment before they spend too much money on Often, they are able to do things to speed up your purchase,
something that may have defects in the title. and reduce the risk of your purchase not going through.

5) Mortgage offer. 7) Prepare for exchange and completion.
Your solicitor will need to explain this to you. Some solicitors Sadly, many solicitors over-complicate this stage and cause
invite you in but fail to give a full breakdown of the offer and delays. Don’t forget, without exchange your transaction is at
consequences for you. risk! Nothing is guaranteed until exchange of contracts.
Once exchanged, you can move out at a later date (being the
What AVRillo suggest you do differently? completion date).
We ensure that with any mortgage offer, our client gets a full
report setting out the obligations their lender expects from What AVRillo suggest you do differently?
them & identifying relevant issues in their mortgage offer. This We allow our clients flexibility to choose their own completion
enables our clients to observe these & reduce their lender risks. date and fix this directly with the seller or their estate agents
before letting us know. Once fixed, we can simply deal with the
legal issues, exchange and guarantee your purchase.